By Laura Lutz
Chicago, Oct. 19 - Yangarra Resources Ltd. settled its private placement of units for C$1.13 million, down from the C$2.1 million size announced on Sept. 4.
The placement consisted of 6,163,636 non flow-through units at C$0.11 each and 3,242,857 flow-through units at C$0.14 each.
The non flow-through units each consist of one non flow-through share and one half-share warrant.
The flow-through units each consist of one flow-through share and one half-share warrant.
Each warrant from either series of units is exercisable at C$0.17 until June 30, 2008.
The offering is non-brokered.
Proceeds from the non flow-through part of the placement will be used to settle debt obligations and for working capital. Proceeds from the flow-through part of the placement will be used for exploration and development.
Yangarra is a resource exploration company based in Calgary, Alta.
| Issuer: | Yangarra Resources Ltd.
|
| Issue: | Units of one non flow-through share and one half-share warrant; units of one flow-through share and one half-share warrant
|
| Amount: | C$1,132,000
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 4
|
| Settlement date: | Oct. 19
|
| Stock symbol: | TSX Venture: YAN
|
| Stock price: | C$0.105 at close Aug. 31
|
|
|
| Non flow-through units
|
| Units: | 6,163,636
|
| Price: | C$0.11
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2008
|
| Warrant strike price: | C$0.17
|
|
|
| Flow-through units
|
| Units: | 3,242,857
|
| Price: | C$0.14
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | June 30, 2008
|
| Warrant strike price: | C$0.17
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
